Tesla (NASDAQ:TSLA) Earns “Neutral” Rating from KGI Securities

KGI Securities reissued their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report published on Thursday morning, Benzinga reports. KGI Securities currently has a $236.00 target price on the electric vehicle producer’s stock.

A number of other brokerages have also recently weighed in on TSLA. New Street Research cut Tesla from a buy rating to a neutral rating and set a $225.00 price objective on the stock. in a report on Wednesday. Wells Fargo & Company reissued an underweight rating and set a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Cantor Fitzgerald cut Tesla from an overweight rating to a neutral rating and raised their price objective for the company from $230.00 to $245.00 in a report on Wednesday. Needham & Company LLC reissued a hold rating on shares of Tesla in a report on Wednesday. Finally, HSBC raised their price objective on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $204.30.

Tesla Stock Performance

Shares of TSLA opened at $219.80 on Thursday. The company has a market cap of $702.18 billion, a PE ratio of 56.07, a price-to-earnings-growth ratio of 5.50 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $205.68 and a 200-day moving average price of $190.93. Tesla has a 12-month low of $138.80 and a 12-month high of $278.98.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. As a group, equities analysts forecast that Tesla will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth $7,844,757,000. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after purchasing an additional 458,804 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.